Glassnode: Short-term holders are selling most altcoins at a loss

Glassnode data shows that only about 12% of tracked altcoins had short-term holders selling at a profit at the end of October, down sharply from roughly 80% at the end of September, across more than 300 tokens. Short-term holders are defined as those who bought within the past 155 days. The altcoin-to-Bitcoin spot volume ratio fell from nearly 4x at its September peak to about 3x by late October, according to Glassnode chief analyst AntiFragile. The shift signals that recent altcoin buyers are increasingly underwater, a sign of weakening speculative demand beyond Bitcoin. Glassnode says Bitcoin closing above $85,000 for several consecutive days could turn the $84,000–$85,000 resistance zone into support, while a sustained break below $73,000 could lead to a longer consolidation.